FX.co ★ dusty24 | GBP/USD

Hello traders. GBP/USD. Yesterday, the pound/dollar finally rebounded from the resistance zone built on recent weeks' highs. However, it is still too early to talk about the development of a bearish trend at the moment. On the hourly chart, indicators are just in the process of forming a sell signal intraday, with the pair entering the bearish zone of the Bollinger Band. If it consolidates here, it may be worth considering opening short positions with an approximate target of 1.3300 in the short term. Nevertheless, it is advisable to wait for more complete confirmation from the technical analysis. On the four-hour chart, indicators are still pointing north, but the Bollinger Band has shifted, hinting at the end of the upward impulse and the start of a local correction aiming to test its upper middle band, which roughly aligns with the aforementioned target. Therefore, the scenario of heading south in the local perspective is quite likely.